Telegram has secured $1.5 billion from institutional investors through a bond offering, even as CEO Pavel Durov faces legal hurdles in France. The move shows strong institutional appetite for digital-first business models that merge social engagement with blockchain-enabled monetization.

9% Yield and IPO-Linked Convertible Option

The bond, structured with a 9% yield over five years, offers investors the potential to convert debt into equity if Telegram goes public. Proceeds will be directed toward repurchasing bonds issued in 2021, helping the firm strengthen its balance sheet.

This hybrid debt structure allows Telegram to raise substantial capital while postponing any IPO pressure—attracting firms like BlackRock, Citadel, and Mubadala in the process.

Pavel Durov Facing Legal Constraints in France

CEO Pavel Durov remains under investigation in France over alleged failure to moderate illegal content on Telegram’s platform. While he denies wrongdoing, prosecutors recently blocked his attempt to travel to the U.S. for investor-related meetings.

Durov responded:

“We’ve met every legal obligation sent to us and remain committed to transparency.”

His travel remains restricted pending the outcome of the probe.

Financials Show Turnaround, Boost Confidence

Telegram turned profitable in 2024, reporting $540 million in profit on $1.4 billion in revenue. For 2025, it projects $2 billion in revenue and profits exceeding $700 million. The company attributes this growth to paid subscriptions, ad services, and in-app sales.

The strong financial performance has helped ease investor concerns around the ongoing legal case.

A Model for Web3-Enabled Platforms

Telegram’s role as both a communications app and a crypto-friendly ecosystem is gaining traction. While it doesn’t issue its own token, it supports digital asset activity through bots, decentralized applications, and peer-to-peer tools.

The bond sale reinforces the trend of crypto-adjacent companies accessing traditional finance to fuel growth, highlighting increasing overlap between regulated capital and decentralized services.

FAQ Highlights

Can legal challenges derail a Telegram IPO?
They could. Ongoing investigations may slow or complicate plans for a public listing, despite investor interest.

How does Telegram engage with crypto?
It enables crypto tools via bots and communities but isn’t a crypto issuer itself.

Why use convertible bonds?
They’re a strategic funding tool offering immediate liquidity with future equity conversion—a common choice for high-growth tech platforms.